Latest Business News
US Economy Expands at Sluggish 0.7% in Fourth Quarter
The US economy showed weak growth in Q4, expanding at just 0.7% as consumer spending and business investment remained subdued. This marks a significant slowdown from previous quarters, raising concerns about broader economic momentum
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Oil Prices Spike Above $100 Per Barrel Amid Iran-US Tensions
Global oil prices surged above $100 per barrel as tensions between the US and Iran escalated, with President Trump threatening further military strikes. The Dow closed down 700 points on Thursday as investors reacted to the spike in energy costs
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Trump Warns Iran as War Extends Into Second Week
President Trump warned of new strikes on Iran while the Islamic Republic's new leader signaled defiance and indicated the Strait of Hormuz would remain closed. The escalating conflict continues to disrupt global energy flows and markets
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Stock Markets Extend Losses as Energy Costs Surge
US stock futures retreated after the S&P 500 slid to its lowest level since November, with the Nasdaq down 6.4% from its October record. European markets also declined, with the Stoxx 600 index putting the benchmark on course for a second week of losses
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Inflation Gauge Worsens in January Before War Escalation
Key inflation metrics worsened in January before the Iran-US conflict sent gas prices surging, with overall prices remaining above the Federal Reserve's target. Experts are weighing whether rising oil prices will drive further inflation increases across the economy
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Russia Benefits as US Allows Oil Sales During War
Russia is positioned to receive close to $5 billion in revenues by the end of March as the US lifts sanctions on Russian oil exports, benefiting Putin's economy amid broader geopolitical tensions. European leaders, particularly Germany, have expressed frustration over this policy shift
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Adobe CEO Steps Down After 18 Years Amid AI Skepticism
Adobe's CEO announced his departure after 18 years leading the company, following significant investor concerns about Adobe's ability to thrive in the AI era. Adobe shares fell in extended trading and are at their lowest level in three years
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Tech Sector Pressured by AI Coding Competition Concerns
Software companies face headwinds as investor fears emerge that easy-to-use AI coding tools will undermine the sector, weighing on share prices. Industry leaders suggest competition may force companies to innovate, though capturing profits from those innovations remains uncertain
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Meta Acquires 'Moltbook' AI Social Media App
Meta announced the acquisition of Moltbook, an AI-powered social media application, as the company continues to invest heavily in artificial intelligence capabilities. The deal represents Meta's broader strategy to strengthen its AI portfolio amid intense competition
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Anthropic Sues Trump Administration Over AI Supply-Chain Designation
Anthropic filed an unprecedented lawsuit against the Trump administration after the White House designated the firm as a supply-chain risk, seeking to block the designation. The legal action reflects tensions between AI companies and the Trump administration's approach to technology regulation
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Gas Prices Surge as Oil Market Volatility Continues
Gas prices are rising sharply amid the oil price spike, with experts warning prices could potentially reach $5 per gallon as geopolitical tensions persist. The surge is impacting US consumers and driving concerns about broader economic impacts
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Chinese EV Makers Gain Market Share Against European Carmakers
Chinese electric vehicle manufacturers have made significant inroads into European markets, prompting companies like Stellantis to explore potential partnerships and collaboration deals. European automakers are facing mounting pressure from increasingly competitive Chinese rivals
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